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Investing in property is way different than investing in other financial vehicles.
Property taxes usually increase every year. Property taxes and the mortgage on a 2 family will be higher than a single family residence of similar purchase price. You need to be able to handle most maintenance and repairs or you will lose more money.
In theory you can raise rent every year, but there are risks. If you lose a good tenant because the raise was too high you now have an empty unit that is not contributing to your payments and needs to still have heat/electricity and water in the unit. If you need to evict you need to pay a lawyer.
Renting out one unit in a 2 family sounds good in theory, but it is way different in reality.
Good point on the property taxes
Finding tenants does not seem to be an issue in the desirable parts of NJ or NYC. This trend isn't going to stop when the city faces a looming housing crisis and doesn't seem to be doing anything to curb real estate investors from China & other countries who drop cash to buy up property for flipping down the road. The concern with this real estate investors is they don't rent out the units so substantial numbers of condo or housing units sit vacant. NYC has grown more quickly than expected: New York City Is Already At Its 2020 Population Forecast - New York YIMBY
Do you really want to be saddled with a house now when you are still young and perhaps dating & looking for a spouse. Houses in NJ are pretty old, require constant maintenance. New homes are really expensive. Just imagine all the stress you will have to go through, much of it was described in prior threads. Also, I would imagine that most of your friends are all either in Brooklyn or Manhattan. You will suddenly become cut off from your social circle and might have to try to meet new friends.
If you made up your mind about buying, perhaps you should look at buying an apartment, coop or condo in Brooklyn or JC? Then at least you don't have to worry as much about maintenance.
A number of people are shifting to NJ these days. Everyone has their own reasons. If you are planning an investment, then you can surely go for any of them. But as you want everything close to you, NYC is the solution. Right now you don’t seem to have many expenses. Therefore, it is not a hard thing to do.
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